by Stephanie Elsen
As an accounting and payroll software development company, we talk to customers everyday who are looking to make data entry processes more efficient. Thankfully Red Wing Software products have the capability of helping in various ways. Use these features to avoid data errors and increase data entry efficiency!
Time Clock/Time Capture Tools
Using time clocks or other time capture tools can decrease the amount of time spent processing payroll. Instead of entering data by hand, you import the data that has been collected in the time clock or other device, directly into your payroll software. You can map the fields of information you need to import to your payroll software, so that only the information you desire is imported along with the time.
Copy from Previous and Recall
When entering new information into the system, make use of the recall, recurring and copy functionality instead of entering the data manually. These tools provide a way for you to copy from data that’s already in the system. Consider how many similar transactions, employees, customers, and more that you enter over the year, and you will see why this is such a time-saving feature!
If there is a piece of information you need to update for a wide variety of records, you can use the mass update function to save significant time! One example is the updating of vendors to be marked as 1099 vendors. If you need to update several vendors at once, use the mass update tool! It allows you to see a list of vendors available, pick from a list which ones to change, and then make those changes all at once. The same update function is available for employees, customers, vendors and other master files.
Whether you are using Red Wing Software or other accounting and payroll software, using these functions can save time and make your work more efficient!
No matter the size of your business, accounting software must be an integral part in managing your finances. Of course, the range of software packages available these days is vast, and you have to strike a balance between something that can handle your needs while being as easy to use as possible. But, regardless of which accounting software you choose, keep in mind that all packages should allow you to get the information you need without a hassle. What good is a system that only allows you to pull out information on reports and other documents, with only the data they deem valuable? Consider these tips for obtaining the information you need, the way you want to see it.
Customizable Reports: While many accounting systems do include a variety of standard reports, they are typically very general to satisfy the needs of the masses. What happens if you want to include an additional field? Or how about if you would rather have two columns of information switched around? It’s best to be able to view what you and your management team wants to see on financial statements. Look for a system that allows you to take one of their standard reports and add, remove, or move fields of information as you like to see it. Then, save your revised report so you can run it exactly the same from month to month, giving all those who view the reports a consistent view of the crucial financial information. Financial information is simply too important to leave the data you pull out up to the discretion of the general reports in your system.
Drill Down to Original Source Entries: When using the reporting within your accounting system, using drill down to original source entries can be an extremely useful tool. When you are in a report, you may have a question about what makes up a number or how that figure was calculated. Drilling down to the original source eliminates the step of having to go into a full edit function or run another report. This helps keep your information accurate while also letting you make edits more quickly and efficiently.
Departmental Reporting: Do you often throw or stuff your personal cash into your wallet or purse helter skelter? No, you likely fold up your dollar bills and perhaps even organize them by dollar amount. If you had to search for and unravel scrunched up dollar bills each time you wanted to buy something, it would take a long time and frankly that would be embarrassing. This is similar to organizing your transactions in your accounting software. Setting up and tracking information by department helps you understand financial information about each of your departments, so you have a more solid idea about each department’s success and where improvement may be needed. Instead of viewing all of your financial information together, it can be broken up and more easily understood.
When you are able to pull the information out of your software with ease, you can spend less time analyzing and more time improving and carrying onward. Use the analysis tools within your software to help you get the information you need, in the way you need to see it.